Nepal seeks more foreign investments in hydropower sector

Energy-starved Nepal today called for increased FDI from South Asian nations, including India, in its hydropower sector to fulfill its domestic needs and optimum utilisation of the country’s water resources.

Minister for Energy Radha Gyawali said Nepal committed to introduce policy reforms and simplify regulations to create a conducive environment for foreign investers.

She was speaking during the inaugural session of the SAARC Workshop themed Harmonizing Regulations and Policies for Cross Border Power Trade in Kathmandu.

“Nepal wants to intensify bilateral cooperation with India in hydropower sector, so that Nepal will not only be in a position to fulfill its domestic needs but will also be able to export hydropower to neighbouring countries, mainly India,” she said.

Former Ambassador of India to Pakistan G Parthsarthy said Nepal can be a major source of hydropower as we move on to the path of developing a South Asian grid to address energy crisis in the sub-continent.

He underlined the need for greater participation of private sector in areas of power generation and distribution as govenrnment projects are plagued by delays in the region.

Independent Power Producers’ Association of India (IPPAI) director general Harry Dhaul said harmonisation of hydropower policies and regulations at regional levels are essential for cross-border power trade.

Some 60 delegates from seven South Asian countries –Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka — are taking part in the two-day event.